repair credit score

Tamara T asked:


I have been working very hard to repair my credit after losing my job nearly forced me to declare bankruptcy 3 years ago. had quite a view late payments but I’ve paid most of my balances down to less than 50% if not zero. However I currently have 2 charge off on my credit report(s). One is a car loan and the other is a personal loan. The total charged off amount was about 23,000. In the last two years I have paid about 19,000 on both loans. One is paid and the other has a principal balance of about 4,000. I am working with the creditor to have them changed from charged off to paid/paying as agreed as part of a final settlement. Does anyone have any idea how many actual points on your credit report charge offs are “worth”? Meaning if my credit score is currently 600, and I get these accounts changed from Charged off Paid, to Paid/Paying as Agreed with no charge off listed, how many points should I expect my score to go up for each considering the type of accounts they are?
Isn’t it at the discretion of the creditor how the debt is reported? They decide what they report to the credit bureaus. They can agree as part of the settlement to NOT report and once I have documenation of that it will be removed completely. I am negotiating for them to report PAID as agreed with a Zero balance rather than what they are currently reporting which is – CHARGED OFF AS BAD DEBT. Would them not reporting at all and the debt disappearing be better than it saying PAID as agreed?
The final settlement will allow me to dictate whatever I want changed on my credit report for BOTH accounts. Is getting both deleted entirely BETTER than having them changed from Charged Off to Paid/Paying as Agreed? And back to my original question – How many POINTS can I expect to gain on my credit report for having both deleted or changed to positive status?

Anna